How to plan for retirement

Retirement can be a scary concept for people coming up to this time in their lives, but it is nothing to be afraid of.

It is a major change for someone who has been working all of their adult life, but once you get used to the necessary alterations you can craft a good life for yourself in your autumn years. The key is to embrace the changes that come with your retirement rather than get upset because your lifestyle is different.

You might find that suffer periods of tension in the weeks or months leading to your retirement; this can sometimes be related to the uncertainty that comes with the end of your working life. It may help to think about how you will adapt your life in the future to cater for being a retiree.


You have all the time in the world to pursue your hobbies and relax - two things you may not have been able to devote much time at all to over your previous 40 years. The amount of free time you have can be overwhelming at first, but once you start making plans your days will soon fill up.

There will inevitably be times when you wish you had a job to go to, as it provides something around which to structure your day; there are all sorts of organisations that you can volunteer at and the work can be hugely rewarding on a personal level.

Living situation

As a retiree you may want to make a few changes to the way you live, perhaps downsizing your property to a smaller place or moving into a retirement park home. Think about what sort of features you might need in a house in ten years or more, as your health is likely to deteriorate over time.

This may mean getting a place close to family members or perhaps simply buying a bungalow, so that you will not need to climb any stairs. You should balance your potential future medical needs with what you really want at this moment in time; i.e. if you are very keen to have an art room, then do not let future issues stop you.


An obvious point but one worth making; you are going to have less money, so you need to make your peace with this. People will not think you less generous if you stop paying for their meals or buying them expensive gifts - they will understand that your financial situation has changed.

Besides, even though you have less money, you have much more time, so you can make some brilliant gifts and learn new skills at the same time if you have the patience.


When you retire a lot of things that you took for granted may not be so regular so make sure you are keeping yourself in shape both mentally and physically. Look at your diet and exercise regime, but also ensure that you are keeping your brain busy; remember to socialise and do things that make you think - whatever that might be for you.